TORONTO, April 29,
2024 /CNW/ - Invesque Inc. (TSX: IVQ.U) (TSX: IVQ)
("Invesque" or the "Company") announced today that
Scott White, Chairman and Chief
Executive Officer, will resign from his role as Chief Executive
Officer effective May 10, 2024. Mr.
White will continue to serve as Chairman of the Board of Directors
(the "Board") and will remain with the Company in an
advisory capacity.
Adlai Chester, who currently
serves as Chief Financial Officer, and Executive Vice President of
Investments for the Company and a Director on its Board, will
assume the Chief Executive Officer role upon Mr. White's departure.
Mr. Chester has been with Invesque since 2017, and has more than 20
years of finance, real estate, investment, development, and capital
markets experience. Simultaneous with Mr. Chester assuming the
Chief Executive Officer role, Quinn
Haselhorst will step into the Chief Financial Officer
position. Mr. Haselhorst has been part of the Invesque team since
its formation in 2015 and is currently Senior Vice President of
Finance. Mr. Haselhorst is a CPA and has fifteen years of
accounting and finance experience, the majority of which has been
spent in the healthcare real estate industry.
The Company also announced its intention to reduce the size of
its Board ahead of the annual general meeting (the "AGM")
scheduled to be held on June 20,
2024. Randy Maultsby, who was
Tiptree Inc.'s nominee on the Board until its recent sale of all of
its shares in the Company, resigned as a director. Current Board
member and Audit Committee Chair, Gail
Steinel, is expected to assume the role of Lead Independent
Director. In addition to Ms. Steinel, the Company is proposing the
following Board members be nominated to stand for election by
shareholders at the AGM:
- Scott White, Chairman
- Gail Steinel, Lead Independent Director
- Adlai Chester
- Brad Benbow
- Shaun Hawkins
Additional Information
Additional information, including financial statements and
management's discussion and analysis can be found on the Company's
website or on SEDAR+.
About Invesque
The Company is a North American health care real estate company
with an investment thesis focused on the premise that an aging
demographic in North America will
continue to utilize health care services in growing proportion to
the overall economy. The Company currently capitalizes on this
opportunity by investing in a portfolio of income-generating
predominantly private pay seniors housing communities. The
Company's portfolio includes investments primarily in independent
living, assisted living, and memory care, which are operated under
long-term leases and joint venture arrangements with
industry-leading operating partners. The Company's portfolio also
includes investments in owner-occupied seniors housing properties
in which the Company owns the real estate, the licensed operations,
and provides management services through Commonwealth Senior
Living, LLC, a Delaware limited
liability company ("Commonwealth").
SOURCE Invesque Inc.